AVN 67.60 Increased By ▲ 0.50 (0.75%)
BAFL 30.99 Decreased By ▼ -0.01 (-0.03%)
BOP 4.91 Increased By ▲ 0.01 (0.2%)
CNERGY 3.74 Decreased By ▼ -0.04 (-1.06%)
DFML 14.03 Decreased By ▼ -0.40 (-2.77%)
DGKC 41.11 Decreased By ▼ -0.74 (-1.77%)
EPCL 46.58 Increased By ▲ 0.01 (0.02%)
FCCL 11.60 Decreased By ▼ -0.09 (-0.77%)
FFL 5.03 Decreased By ▼ -0.04 (-0.79%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.34 Decreased By ▼ -0.08 (-0.77%)
HUBC 68.04 Increased By ▲ 0.04 (0.06%)
HUMNL 5.74 Decreased By ▼ -0.02 (-0.35%)
KAPCO 28.02 Decreased By ▼ -0.08 (-0.28%)
KEL 2.26 Decreased By ▼ -0.03 (-1.31%)
LOTCHEM 25.02 Decreased By ▼ -0.03 (-0.12%)
MLCF 21.45 Decreased By ▼ -0.24 (-1.11%)
NETSOL 87.66 Increased By ▲ 1.66 (1.93%)
OGDC 99.30 Increased By ▲ 6.92 (7.49%)
PAEL 11.00 Decreased By ▼ -0.09 (-0.81%)
PIBTL 4.26 Increased By ▲ 0.02 (0.47%)
PPL 81.12 Increased By ▲ 0.97 (1.21%)
PRL 13.23 Decreased By ▼ -0.41 (-3.01%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 43.85 Increased By ▲ 0.38 (0.87%)
TELE 6.12 Increased By ▲ 0.16 (2.68%)
TPLP 15.66 Decreased By ▼ -0.07 (-0.45%)
TRG 118.99 Increased By ▲ 3.98 (3.46%)
UNITY 14.01 Increased By ▲ 0.16 (1.16%)
WTL 1.23 Increased By ▲ 0.07 (6.03%)
BR100 4,171 Increased By 47 (1.14%)
BR30 15,253 Increased By 323.5 (2.17%)
KSE100 41,523 Increased By 332 (0.81%)
KSE30 15,663 Increased By 168.9 (1.09%)
Pakistan

Ishaq Dar directs measures to stop cross-border dollar smuggling

  • Finance minister stresses need for coordination among all necessary platforms to curb smuggling of foreign exchange and other items
Published December 9, 2022
Follow us

Federal Minister for Finance and Revenue Ishaq Dar on Friday directed authorities to devise a robust and proactive road map to curb cross-border smuggling of foreign exchange and various items, as the government seeks to bring economic and financial stability in the country.

The development comes during an inter-ministerial meeting on economic situation of the country held at the Finance Division on Friday.

The meeting discussed and reviewed the economic situation and current mechanism of foreign currency; wheat and urea smuggling, said the Ministry of Finance in a statement.

Various measures were discussed in order to strengthen anti-smuggling regime, it said.

Pakistan's economy faces multiple challenges, including depleting foreign exchange reserves that declined by $784 million to $6.715 billion during last week, according to latest data. The current level of the reserves held by the State Bank of Pakistan (SBP) is the lowest since January 2019.

According to the SBP, this decline is on account of payment of $1,000 million against maturing Pakistan International Sukuk and some other external debt repayments. Some of the debt repayments were offset by inflows, mainly US$ 500 million received from Asian Infrastructure Investment Bank (AIIB).

Meanwhile, the finance minister highlighted the economic situation in the country and stressed the need for coordination among all the necessary platforms for this purpose.

The participants appreciated the finance minister for taking appropriate and active measures for tackling the current economic situation and ensured their support for ensuring smooth and sustainable economic growth, according to the statement.

Minister for Law and Justice Azam Nazeer Tarar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Governor SBP, Secretary Finance, Secretary Interior, Chairman FBR, DG FIA, DG I&I Customs and senior officers from Finance Division and intelligence agencies also participated in the meeting.

Last week, Dar informed the attendees at a ceremony that steps are being taken to stop the smuggling of US dollar to a “neighbouring” country, which will also help the economy.

Comments

Comments are closed.

Adil Dec 09, 2022 09:43pm
Sargadaha
thumb_up Recommended (0)

Ishaq Dar directs measures to stop cross-border dollar smuggling

Government postpones All Parties Conference again as PM will be in Turkiye

KSE-100 rises 0.81% on optimism over resolution of gas sector circular debt

Up to $5 mn smuggled into Afghanistan from Pakistan daily: report

Earthquake rescue work moves slowly in Turkiye, Syria as death toll passes 5,000

PM Shehbaz orders establishment of relief fund to aid Turkiye

Debt reprofiling viable option for Pakistan under IMF watch: report

Islamabad court rejects Sheikh Rashid’s bail petition

IMF should work with Pakistan to protect the deprived: Human Rights Watch

Toshakhana case: Islamabad court defers Imran Khan's indictment

High-income earners directed to pay 50pc of super tax liability